Japan earnings bellwether Yaskawa cuts forecast on Korean chip slump

Japan earnings bellwether Yaskawa cuts forecast on Korean chip slump Japan earnings bellwether Yaskawa cuts forecast on Korean chip slump

TOKYO — Japanese industrial supplier Yaskawa Electric on Friday downgraded its full-year earnings guidance on a drop in demand from South Korea’s semiconductor industry and a pause in U.S. investment.

Consolidated operating profit is now projected to decline 12% to 58 billion yen ($368 million) for the fiscal year ending in Febru, a 6 billion yen cut from the previous forecast.